Van ECK Associates Corp Grows Position in Oaktree Specialty Lending Co. (NASDAQ:OCSL)

Van ECK Associates Corp boosted its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSLGet Rating) by 48.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,868,924 shares of the credit services provider’s stock after purchasing an additional 1,261,296 shares during the quarter. Van ECK Associates Corp owned about 2.14% of Oaktree Specialty Lending worth $28,514,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of OCSL. Greenwich Investment Management Inc. purchased a new stake in Oaktree Specialty Lending in the fourth quarter valued at approximately $18,335,000. Invesco Ltd. grew its holdings in Oaktree Specialty Lending by 911.0% in the fourth quarter. Invesco Ltd. now owns 1,870,776 shares of the credit services provider’s stock valued at $13,956,000 after purchasing an additional 1,685,736 shares during the period. Ares Management LLC grew its holdings in Oaktree Specialty Lending by 7.7% in the fourth quarter. Ares Management LLC now owns 5,490,077 shares of the credit services provider’s stock valued at $40,956,000 after purchasing an additional 393,658 shares during the period. Waverton Investment Management Ltd lifted its position in Oaktree Specialty Lending by 15.6% during the first quarter. Waverton Investment Management Ltd now owns 2,340,126 shares of the credit services provider’s stock valued at $17,247,000 after buying an additional 315,055 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Oaktree Specialty Lending by 143.0% during the first quarter. Qube Research & Technologies Ltd now owns 387,293 shares of the credit services provider’s stock valued at $2,854,000 after buying an additional 227,929 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OCSL has been the topic of a number of recent research reports. Hovde Group reduced their target price on shares of Oaktree Specialty Lending to $7.00 in a research report on Friday, May 20th. StockNews.com cut shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Friday, August 5th.

Oaktree Specialty Lending Trading Down 0.1 %

NASDAQ OCSL opened at $7.19 on Wednesday. The company’s fifty day simple moving average is $6.76 and its 200-day simple moving average is $7.11. Oaktree Specialty Lending Co. has a 52 week low of $6.20 and a 52 week high of $7.81. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.32 billion, a P/E ratio of 24.79 and a beta of 1.25.

Oaktree Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, September 14th. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 9.46%. Oaktree Specialty Lending’s dividend payout ratio is currently 227.59%.

Insider Activity at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were purchased at an average cost of $6.80 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director now directly owns 12,700 shares of the company’s stock, valued at approximately $86,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

About Oaktree Specialty Lending

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Oaktree Specialty Lending Corporation is a business development company specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity and management buyouts in small and mid-sized companies.

See Also

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Institutional Ownership by Quarter for Oaktree Specialty Lending (NASDAQ:OCSL)

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